Our mission is to help you obtain financial freedom. Checkout Our Youtube Channel Checkout Our Youtube Channel

Bitcoin’s Boom or Bust Moment

BTC has gradually declined over the last few days, and the price is at a very important pivot. There was a break below the bull pennant, marked by the orange curve. However, BTC formed a strong rebound, but was unable to reach the upper end of the bull pennant. The recent selloff is raising concerns for another drop below the bull pennant again, which is causing some bearish sentiment in the market. Right now BTC is holding up pretty well, and appears to be forming a rebound. Bulls want BTC to stay above $62k to start trending up and forming a bullish breakout. Bears want this rebound to fail so that BTC can drop below the bull pennant again. The next few trading days will be extremely important for finding a direction.

ChartChamp socials: https://linktr.ee/realchartchamp

Inline Feedbacks
View all comments

More ClearValue Insights

Default Thumbnail

ETH Still Neutral After ETF Approval

I’m sure many of you are wondering why ETH hasn’t pumped after yesterday’s ETF approval news. The pump occurred before the ETF was approved with a strong pump on Monday. ETH is currently trading between the light blue and yellow zones. When the Bitcoin ETF was approved we saw a strong rally from $35k to […]

Read More
Default Thumbnail

BTC Trying to Rebound off the Bull Pennant

BTC has been in a downswing after a rejection at previous all time highs in the yellow zone. Yesterday I discussed how the white trendline from the bull pennant could be a short-term support target. There was a wick down to this white trendline, and BTC has been forming a rebound so far. I think […]

Read More
Default Thumbnail

Ethereum ETFs Approval: Possible Bull Run But Still Uncertain

The cryptocurrency market is abuzz with speculation as the potential approval of spot ether (ETH) exchange-traded funds (ETFs) in the U.S. seems to be drawing near. Although, not long ago the overall sentiment regarding such approval was not very bullish, now everyone seems to be very hopeful and are seeing this anticipated regulatory decision as […]

Read More